Spectra Credit Union mortgage approval rate & lending review
Spectra Credit Union decided 400 mortgage applications and funded 278 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions Spectra Credit Union reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
Spectra Credit Union at a glance
Approval is 6.1 points above the 68.4% national rate for the same mix of loan types.
Approval rates by loan type
| Loan type | Approval | Approved | Taken up | Typical loan | Loans made |
|---|---|---|---|---|---|
| Mortgage lenders | 83% | 65 / 78 | 91% | $235K | 59 |
| Home improvement loans | 76% | 149 / 196 | 95% | $85K | 141 |
| Cash-out refinance | 66% | 56 / 85 | 89% | $185K | 50 |
| Investment home improvement | 72% | 21 / 29 | 100% | $75K | 21 |
Spectra Credit Union lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Maryland | 69% | $75K | 174 | 111 |
| Virginia | 80% | $105K | 108 | 81 |
| Ohio | 86% | $45K | 22 | 15 |
Fat Boy Data covers 616 counties, 79.6% of the US population, not every county in every state. States with fewer than 20 decisions are not listed.Methodology.
Where Spectra Credit Union lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Charles County, MD | Home improvement loans | 65% | 31 | 19 |
| Fairfax County, VA | Home improvement loans | 78% | 23 | 17 |
| Prince George's County, MD | Home improvement loans | 64% | 25 | 14 |
The county markets where Spectra Credit Union made the most loans. Each link opens that market with every lender ranked.
Questions about Spectra Credit Union
What is Spectra Credit Union's mortgage approval rate?
Spectra Credit Union approved 74.5% of the 400 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 6.1 points above the 68.4% national rate for the same mix of loan types.
How often do borrowers take the loan Spectra Credit Union offers?
Borrowers accepted 93% of the loans Spectra Credit Union approved, against 93% for all home improvement loan lenders nationally. A low take-up usually means the approved terms were not competitive.
What size loans does Spectra Credit Union make?
The typical home improvement loan loan Spectra Credit Union made was $85K; across all loan types its typical loan ran from $75K to $235K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does Spectra Credit Union lend?
Spectra Credit Union decided applications in 28 of the states Fat Boy Data covers, most of them in Maryland, Virginia and Ohio.
Can I apply to Spectra Credit Union directly?
Yes. Spectra Credit Union is a bank or credit union with 4 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show Spectra Credit Union's interest rates?
No. HMDA filings record who applied, who was approved and how much was borrowed, not the rate offered. Use the approval rate and take-up here to judge how Spectra Credit Union treats applications, then get a rate quote from the lender.